POET Technologies (CVE:PTK) Upgraded to Strong-Buy at Singular Research

POET Technologies (CVE:PTK) was upgraded by research analysts at Singular Research to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

POET Technologies Price Performance

Shares of CVE:PTK opened at C$7.38 on Monday. The company has a quick ratio of 5.08, a current ratio of 1.89 and a debt-to-equity ratio of 14.84. The company has a market cap of C$669.51 million, a P/E ratio of -9.11 and a beta of 0.82. POET Technologies has a 52 week low of C$3.57 and a 52 week high of C$10.53. The company has a 50-day moving average price of C$7.38 and a 200 day moving average price of C$7.38.

Insider Buying and Selling

In related news, insider Mo Jinyu sold 30,000 shares of POET Technologies stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of C$20.15, for a total transaction of C$604,500.00. Also, insider Kevin Barnes sold 50,000 shares of POET Technologies stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$19.56, for a total value of C$978,000.00. Following the transaction, the insider owned 32,746 shares of the company’s stock, valued at C$640,511.76. This represents a 60.43% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 180,500 shares of company stock valued at $3,597,905. 0.82% of the stock is currently owned by company insiders.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. The company offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques. It also develops photonic integrated components. The company serves the data center, telecommunications, Internet of things and industrial sensing, automotive LIDAR, optical coherence tomography for medical devices, and virtual reality systems markets.